Raymond James Financial Inc. Makes New Investment in Global Ship Lease, Inc. (NYSE:GSL)

Raymond James Financial Inc. purchased a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 29,006 shares of the shipping company's stock, valued at approximately $633,000. Raymond James Financial Inc. owned about 0.08% of Global Ship Lease at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GSL. Janus Henderson Group PLC lifted its holdings in shares of Global Ship Lease by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 46,179 shares of the shipping company's stock worth $1,231,000 after acquiring an additional 2,478 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Global Ship Lease during the third quarter valued at about $712,000. Quarry LP lifted its stake in Global Ship Lease by 75.0% during the third quarter. Quarry LP now owns 3,495 shares of the shipping company's stock worth $93,000 after purchasing an additional 1,498 shares during the last quarter. State Street Corp boosted its holdings in shares of Global Ship Lease by 1.2% in the 3rd quarter. State Street Corp now owns 276,415 shares of the shipping company's stock worth $7,366,000 after purchasing an additional 3,346 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Global Ship Lease in the 3rd quarter worth about $579,000. Institutional investors own 50.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GSL. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 7th. Jefferies Financial Group restated a "buy" rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Wednesday, March 5th. Finally, Clarkson Capital raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th.

Global Ship Lease Trading Up 4.5 %

Shares of NYSE GSL traded up $0.86 during midday trading on Friday, reaching $19.78. The company had a trading volume of 464,105 shares, compared to its average volume of 468,788. The stock has a market cap of $701.07 million, a PE ratio of 2.19 and a beta of 1.21. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $30.32. The firm's fifty day moving average price is $22.10 and its 200-day moving average price is $22.68. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $182.43 million during the quarter, compared to the consensus estimate of $170.71 million. On average, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date was Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 9.10%. Global Ship Lease's payout ratio is currently 18.50%.

Global Ship Lease Profile

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.